STRATEGY OF EFFICIENT INDUSTRIAL AND ECONOMIC ACTIVITY FOR ASSOCIATED GAS UTILIZATION IN EASTERN SIBERIAABSTRACT. New oilfield development in Eastern Siberia is carried out in terms of insulation from the urban areas, the centralized power-supply sources and road infrustructure. Flaring of associated gas is resticted by the ederal law, but it is often the only possible technological decision during the first years of oilfield exploitation. The article considers the options of using gas as a fuel for power plants, as a crude material for gas chemical processing and export. The key project of ceveloping the gas market in Eastern Siberian regions is construction of the gas transmission pipeline «Power of Siberia». In the context of two oilfields located in the northern regions of Irkutsk Oblast, the authors have simulated the ways of rational use of the associated gas, including gas sales to the Asian-Pacific countries, and have made a comparative analysis of economic efficiency of the project realization in in terms of the current market. KEYWORDS. Associated oil gas and its utilization; penalties for flaring; gas utilization; temporary undeground gas storage and its gas chemical processing.